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February
5

Bain Real Estate Cornwall Village 2019 February Market Report.

 

Dear Neighbor,

PLEASE CLICK  HERE TO SEE THE MAP

 

 

It is a very cold winter indeed; which is certainly not news to anyone in Cornwall today. But what may be not as well known is that sale prices have been firming up hinting that we have finally rebounded from the depths of the Great Recession that swamped us 10 years ago.  Since then as consumer confidence grew, so did buyer confidence.  With buyer confidence come sales, shrinking inventory, increased demand and stronger values. This is clearly evident with only 28 residential homes available for sale which is traditionally low. A cautionary note to insert, we are now seeing daily volatile financial world swings and that will affect our real estate values.

The upper end of the market (sales over $1 million) is the outlier in the county as well as town.  There are sales in this end of the market but they are not as brisk as the past few years. Another manifestation we are seeing is that significant investments in one's home over the past 10 years may prove to be a personal benefit but an investment that may not always be recouped upon a sale.

This past year Cornwall registered 23 house sales and 2 land sales.  2 of the sales were in the village and an additional 6 sales were in the vicinity, so I have included them all here.  Several of the sales were not open on MLS, but privately accomplished.

 36 Bolton Hill was a family sale/transfer.  This is the first lot as one drives into the village from Route 4 and includes the Cornwall Village Post Office building.  The lot is 1.1 acre and the building is 925 square feet on the main floor.  The recorded sale price is $85,000.

1 School Street at the corner of Bolton Road is a charming 1957 3-bedroom colonial.  It has a view looking over its lovely gardens and an attached 2 car garage.  The dining/living room has a great fireplace and the basement level offers a full walkout and is an ideal office or studio space. Originally listed at $425,000 and reduced to $350,000, it closed for $370,400.

56 Todd Hill Road may have set the record for the quickest sale in Cornwall; listed at $296,000 in September, it closed in November.  This ranch style house offers 3 bedrooms, 2 full baths and a security system.  The house was built in 1930 on 4.5 acres.  It also offered a detached 3 car garage and a barn in a lovely neighborhood.  Final sale price: $280,000.

103 Cemetery Hill Road was better known as the Berkshire Country Store and took many years to sell.  We have lamented its close and hope it will soon reopen.  It sold for $450,000.

34 Great Hollow Road was a true "spec" house.  It is a large colonial, 3516 square feet, with 4 bedrooms, 3 full and 1 half bath on 3 acres in full view of the Mohawk Ski Area.  Above the attached 3 car garage is a studio apartment which adds potential rental income.  The house offers both a deck and a screened porch and rare for Cornwall, cell service!  $899,000 was the asking and it sold at $825,000.

45 Valley Road was a private estate sale of an 1855 colonial with 6 rooms, 3 of them bedrooms.  Located on an acre, major construction is underway.  It sold for $230,000.

46 Valley Road was another private estate sale of an 1860 colonial on 2 acres.  This house is a bit larger, over 2000 square feet, with 7 rooms, 4 bedrooms 2.1 bathrooms but it sold for $150,000.

I listed 295 Great Hollow Road a quaint 1951 cottage on over 9 acres for $350,000. It has 2 bedrooms and 2 full baths and a spacious open kitchen, dining and living room with 2 fireplaces.  There is a large deck off the living room that leads to gardens and a swimming pool.  The house has a 2 car garage on the lower level.  It has long view potential and borders the Cornwall Castle property. It sold for $305,000.

We received a letter recently from some former Cornwallians, Betsy and Christopher Pope, who wanted us to report that they had given the Cornwall Conservation Group a 12 acre lot on Popple Swamp and Pierce Roads.  That happened in 2015.  The land value is $314,000. We wish to thank them for their generosity and love of Cornwall.

If you have any questions or comments, please share them with us.  If you find yourself in the neighborhood of 419 Sharon Goshen Turnpike, please stop in for a cup of coffee or hot chocolate and a conversation. Also, please visit us on the web at www.bainrealestate.com, and follow us on Facebook and Instagram. 

 

Respectfully yours,

 

Priscilla Pavel

And the rest of the Cornwall crew:  Dave Hurlburt, Asher Pavel, Heidi Kearns

 

January
8

 Bain Real Estate Cornwall Village 2017 December Market Report

PLEASE CLICK HERE TO SEE THE MAP

 

 

We are in the midst of the holidays, following a lovely Fall season. Winter has arrived in a

friendly, frosty way. The Mohawk Trails are covered with snow and ski season is underway!

 

Last year at this time we reported 7 sales with 43 houses for sale. This year we are reporting 5

sales but only 29 houses currently for sale in Cornwall. The market has gotten a bit more restrictive with fewer homes being offered.  This constriction, we predict, will only help to tighten values in the next few years.

 

While many of our residential sales in the recent past have sold below the Cornwall Town appraised value, on average homes are selling for more than the Cornwall Town assessed value. (An Appraised Value is the full value the Town sees your house being worth- The Assessed Value is 30% less the Appraised Value and is the figure used to calculate your taxes.) We see the value range between the two Town figures as a good place to begin when estimating your own property's value.  I've indicated those figures in the report below.

 

There were 2 sales in the village itself:

5 Twixt Road was the long time home of Joan Titus, independent real estate agent, and former

researcher for Time/Life and dear friend. This cozy home with 3 bedrooms, an office, bath and a half, kitchen, dining room and living room with a detached 1 car garage was my listing. It has been transformed by the new owner into an open first floor living space opening to a large deck and patio in the backyard. Originally listed at $335,000 I sold it for $187,500, which was still above the assessed $165,600.

 

14 Pine Street is a charming clapboard antique dated 1808 with a welcoming front porch.

Upstairs there are 3 bedrooms with a bathroom. Downstairs a large kitchen, living areas and

even an enclosed back porch plus a fireplace. Originally priced at $435,000, it sold quite quickly

for $407,500 just slightly below the $434,800 town appraisal.

 

In the village vicinity we have:

52 Cemetery Hill Road is a Cape Cod style home far enough at the end of a long drive that the house cannot be seen from Route 4. In addition to the house, there is a 3 car garage, storage barn and a writer's cabin at the back of the 10 plus acres overlooking a spring fed pond. Originally the many bookshelves in the house were filled with books by this former professor and researcher. The house itself features 3 bedrooms with a first floor master, eat-in kitchen,

living room with fireplace and a large nook which used to house a grand piano.  I listed this property at $395,000 and later reduced to $299,000 at which point it sold for $280,000, a smidge above the $263,500 assessed value.

 

 

 

 

19 Great Hollow Road is a handsome small yellow house with a detached 1 car garage. With 3

bedrooms on the second floor, the first floor also has a brand new cathedral ceiling addition.

The eat-in country kitchen opened to the back patio for outside dining. A 2.5 acre level yard

offers room for gardening . The near proximity to Mohawk Ski area is also a plus. This is one of the few Cornwall properties to sell above the town appraised value. Originally priced at $225,000 it sold for $200,000 and is appraised at $184,000. This was also my listing.

 

 

55 Essex Hill Road sits high above the roaring Birdseye Brook in a picaresque country setting with a large front meadow, stone walls and long driveway in. Old time Cornwallians may remember this was once the Children's Cottage.  Last bought during the height of the market in 2007 for $615,950 the seller used the Town appraisal of $430,700 as a measure of value and agreed to price the property at $450,000 to meet the market.  David Bain and I shared this listing which has a large, light cathedral ceiling living room with a wood burning fireplace and an entrance to the open deck, an adjacent dining room plus 3 bedrooms which include the master with a bath en suite, David Bain sold it for $440,000.

 

Currently available for sale in this area we have one lot and one home.

The 7 acre lot is at the corner of Everest Hill Road (750' frontage) and Great Hollow Road (149' frontage). Mostly clear and level with several home sites from which to choose it is listed at $150,000 which represents a $25,000 reduction from the original price. This is my listing.

 

295 Great Hollow Road is my listing and a 1951 one level home with swimming pool, large cathedral ceilinged living room with wood burning fireplace, 2 bedrooms, 2 baths, kitchen open to dining area plus an unfinished basement which also includes a 2 car garage. Located on over 9 acres and listed at $350,000. The Appraised value is $368,200 with an Assessed Value of $257,800. Currently there is an offer so I hope to write about this sale in the next letter.

 

We extend Holiday Greetings to all with the expectation of a great New Year 2018.

If we may answer any real estate questions, or visit with you, please stop by the Cornwall office

next door to the new café- Pearly's Farmhouse Café just through the Covered Bridge.

 

Sincerely yours,


 

Priscilla Pavel

REALTOR

AND Heidi Kearns, Dave Hurlburt, Rick Meehan and Asher Pavel

 

 

December
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor,

Hope all were able to enjoy the beautiful fall season. Last year we reported 3 sales in your neighborhood, but this year we have 7 to report. Currently there are 43 houses for sale in Cornwall.

Here is the report of sales:

1 School Street is a wonderful village home with a finished office area in the basement, 3 bedrooms, 2 full baths, screened porch overlooking gardens and an attached 2 car garage was listed at $435,000 and sold at $390,000.

A 4.71 acre lot at the 4 corners with a Cemetery Hill address was listed at $235,000 and sold to C L & P for $185,000. They had been leasing the land for several years.

96 Cemetery Hill Road is a neat ranch with an attached garage plus a barn adjacent to the land mentioned above. It sold privately for $210,000.

82 Cemetery Hill Road is a raised ranch on 4.5 acres with a long driveway in for privacy. The first floor consists of a garage, laundry and studio apartment with full bath and upstairs another 3 bedrooms, full bath, eat in kitchen, fireplace in living room with an outside deck all listed at $199,000 and sold at $180,000 by Rick Meehan.

16 Furnace Brook Road is an antique colonial dating back to 1760, which has been beautifully restored and maintained on over 19 acres and is known as Ballyhack Farm.

A double height sunroom (twentieth century improvement), screened porch, library, chef's kitchen and first floor master compliment the additional 4 bedrooms and 3 baths.

Listed at $875,000 and sold at $810,000.

24 Todd Hill Road is a 4 bedroom, 3 bath cape on over 2 acres with an attached rear 2 car garage and large screened porch. Listed at $249,000 and sold at $220,000.

111 Great Hollow Road is a striking contemporary designed by Peter Eisenman with 1 bedroom, 1 bath in a beautiful setting which includes a brook, heated gunite pool and a

Civil War era schoolhouse all on 6 acres. Originally listed at well over a million dollars it had been reduced to $550,000 and sold at $525,000.

5 Twixt Road is charming 3 bedroom cottage that was the home of Joan Titus, a leading

Broker in Cornwall Real Estate. I have it listed for sale, recently reduced to $240,000. It is private but not isolated. The land extends to Route 4. A public Open House is planned for the Saturday after Thanksgiving, November 26th from noon to 2PM. Tell your out of town friends to come and take a look.

52 Cemetery Hill Road is also my listing, reduced from $395,000. to $299,000. It is a 3 bedroom 1950 house with a detached 3 car garage, barn, gazebo and writer's cottage up by the pond on 10.1 acres and we have an accepted offer that I'll be able to report in the next letter.

91 Cemetery Hill Road is David Bain's country cape with 3 bedrooms, 2 attached garages and several outbuildings at the corner of Great Hollow Road. Once llamas roamed here! It is close to Mohawk skiing and ready for a new owner. $249,000.

19 Great Hollow Road is my newest listing and it features a brand new great room as well as 3 bedrooms and 1 bath all on 2.5 acres with a detached one car garage. The new great room could become the new family room or a first floor master. That will be a decision for the new buyers to make. It is listed for $225,000.

On Valley Road I also have a lovely land listing of over 7 acres beside beautiful Birds Eye Brook which tumbles down one side of the land. An unpaved driveway is in position that extends to a lovely building site on the top. There are underground utilities in place.

Recently reduced to $249,000.

55 Essex Hill Road is the former Children's Cottage transformed into a lovely home back in the 90's. David Bain has this 3 bedroom 2 bath home on over 4 acres listed. A spacious living room with fireplace opens to both the kitchen and the dining room and one hears Birds Eye Brook when you step out onto the deck. The master bedroom with bath en suite is at the far end of the house for privacy and there is a large family room below. All yours for $ 495,000.

 We wish very happy holidays for all. If your travels take you to West Cornwall, please stop in for a visit. We'll be most happy to see you and answer any questions you may have about real estate. You are also invited to visit www.bainrealestate.com where you may read all our letters on Cornwall and other neighboring towns.

 

Cordially,

 

Priscilla Pavel

 Asher Pavel, Rick Meehan, Heidi Kearns, David Hurlburt

 

Please note that not all listings and sales transactions are through David Bain Real Estate.

October
1

PLEASE CLICK HERE TO SEE THE MAP.

Dear Neighbor:

Our most beautiful fall is lasting longer than ever. The usual peak weekend of Columbus Day came and went and we still have lots of color. Our Cornwall Economic Development Committee sponsored an Explore Cornwall weekend and lots of visitors did just that. Several open houses were held and the good news is that Cornwall real estate is appreciated and selling.

Last year, we reported 2 sales in your neighborhood and this year we are reporting 3, all at significantly higher prices than last year. Overall there were 15 sales in town within the last year which is considerably lower than the previous year. While the data sample is small and a few sales can really skew the statistics, a common thread can be seen with the square footage selling price in the $200 per sq. ft. range and nearly 6 months to sell a house. There are presently 37 homes for sale in Cornwall.

 

Status: Closed (15) Cornwall 10/15/2014-10/15/2015

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

622

$54,900

$68.25

$50,000

$60.11

.69154

1

Max

5

5

4,669

$3,695,000

$821.11

$3,200,000

$711.11

.96882

631

Avg

3

2

2,254

$614,780

$221.67

$518,319

$186.85

.85437

183

Median

3

2

2,064

$299,000

$166.53

$250,000

$137.02

.86604

118

Sum

 

 

 

$9,221,700

 

$7,774,788

 

 

 

 

Status: Closed (22) Cornwall 10/15/2013-10/15/2014

 

 

Beds

Baths

SqFt

List Price

LP$/SqFt

Sale Price

SP$/SqFt

SP/LP

ADOM

Min

1

1

1,016

$114,900

$67.59

$94,200

$55.41

.81984

16

Max

5

5

4,936

$1,295,000

$451.58

$1,110,000

$426.59

1

470

Avg

3

2

2,398

$525,918

$223.73

$479,305

$204.54

.90859

194

Median

3

3

2,176

$435,000

$220.60

$392,500

$199.76

.90939

162

Sum

 

 

 

$11,570,199

 

$10,544,700

 

 

 

 

Price is still a most significant feature of a successful sale. Most Cornwall properties sell below the town's appraised value, but above the assessment. Those properties priced way above this benchmark usually linger as "sales listings" and sell when the price drops.

 

This year's sales:

8 Popple Swamp Road had been priced at $825,000 several years ago and was listed by David Bain in 2014 at $592,500. This 10 room 3558 square foot house with 5 bedrooms, 3 baths, 2 fireplaces now has new owners who bought the property for $487,500. It looks great now, shining improvements with paint and landscaping.

 

19 Todd Hill Road had been priced at $733,000. It is a large black walnut log cabin, 2934 square feet sited on 30 very private acres at the end of a dead end road with views overlooking the valley. The house has 4 bedrooms each with bath en suite and includes a first floor master. The new owners paid $615,288.

 

239 Great Hollow Road consists of 3 lots totaling 10.2 acres with a small cottage on the north side of the road and a barn plus a garage on the south side which borders a nature conservancy property. The cottage needs a total redo but the location near Mohawk Ski area is lovely with pastoral views. Listed at $168,500 it sold for $150,000.

 

We have 5 listings for sale in the neighborhood. Three are homes and two are land.

 

52 Cemetery Hill Road is my listing, originally priced at $395,000 and reduced in 2 steps down to $299,000. This 1950 cape is large and light filled at 2715 square feet. It is an estate sale and the interior needs the floors refinished, some walls painted and kitchen appliances updated. But the house and property are unique and offer the next owner an opportunity to create a new and lovely home. One could live in the house while having the work done. The home has 3 bedrooms and 3 baths, 2 fireplaces and the most storage ever! Additionally there is a detached 3 car garage, storage barn, 1 acre pond with writer's cottage and a magnificent 300+ year old oak tree.

 

4 Cornwall Hollow Road was Dr North's home and office back in the early 20th century.

Built in 1914, this 5 bedroom house with eat-in kitchen, gracious front hall, 2 porches and hardwood floors throughout needs serious renovation. It sits on a hill at the 4 corners and needs a new owner to bring it back. The current owner added a handsome standing seam metal roof and has used it as a rental for over 10 years. The property also offers 2 barns, currently rented out as storage units, all on 3.75 acres. In the 1950's and 60's this was a bed and breakfast inn for hunters and skiers. This is also my listing originally priced at $225,000 and just reduced to $195,000.

 

34 Great Hollow Road is David Bain's listing at $1,200,000. This spacious 2013 farmhouse is sited on 3 acres with views of Mohawk Ski Area. A master builder has created a 3840 square foot 10 room home with 4 bedrooms and 3.1 baths and 4 fireplaces. Nine foot ceilings add to the grace, crown moldings, 2 porches, an attached 2 car garage and a large screened porch are all part of the package.

 

On Valley Road I have listed a 7 acre lot with a waterfall! 681' frontage and a driveway roughed in to the top of the acreage where one could build a dream house with views down Coltsfoot Valley. Underground utilities, an incomparable romantic bridge over rushing waters (but built to accommodate a fire truck or ambulance) this land is just past Essex Hill Road. Recently, reduced to $299,000.

 

Over on Great Hollow Road Rick Meehan has listed an 8.62 acre lot. There is a rough drive to a level building site which offers nice eastern views. Listed at $135,000.

 

Currently there are 37 Cornwall houses on the MLS and 3 homes for sale by owner. Please visit www.bainrealestate.com to see all them all. We'd love to have you visit us in the West Cornwall office, next door to the Wandering Moose. If you have any real estate questions, please ask and we'll get the answers.

 

Cordially,

 Priscilla Pavel

 Asher Pavel Richard Meehan Heidi Kearns

 

 

 

 

 

 

Please note that not all listings and sales transactions are through David Bain Real Estate